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Article: A gloomy forecast for Portugal.(Brief article)
- Article from:
- Market Europe
- Article date:
- June 1, 2006
CopyrightCOPYRIGHT 2006 Media Contact Resources, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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On May 8, 2006, the Chinese news agency Xinhua carried a gloomy assessment of Portugal's future, which it says originated with a European Commission (EC) report, published on the same day on the subject of demographic evolution and economic development.
Looking ahead to 2050, the EC report said that because of Portugal's aging population and low productivity Portugal could end up as Europe's poorest and oldest nation. Among the reasons cited to support this view was the fact that Portugal's GDP is only 68 percent of the European Union (EU) average. The EC thinks the comparison will not change much before 2050. If this prediction holds true, then Portugal would ...